Xali Gold plans 3,000-meter drilling campaign at Pico Machay project

Canadian mining company Xali Gold has submitted an Environmental Technical File (FTA) to Peru's Ministry of Energy and Mines (MINEM) to advance exploration at its Pico Machay gold project in the Huancavelica region.

The company has contracted Geologia Estudios Medio Ambientales Drilling & Construction S.R.L. (GEMA) to execute an initial 3,000-meter diamond drilling campaign. Scheduled to begin in early November 2026, pending regulatory approval, the program includes drill holes between 150 and 300 meters deep. Approximately 2,000 meters of the drilling will be used to replicate 10% of historical reverse circulation holes to verify previous results and improve geological understanding of gold mineralization.

The data gathered will be used to update mineral resource estimates and serve as the foundation for a Preliminary Economic Assessment (PEA). Furthermore, the environmental request includes a broader exploration program that could eventually encompass up to 20,000 meters of drilling across 20 platforms.